President Trump this week nominated Michael Bright, the acting president and chief operating officer of Ginnie Mae, to head the agency full-time.
Ginnie has been without a permanent head since January 2017 when Ted Tozer left the agency after seven years as president.
Previously, Bright served as director of Financial Markets at the Milken Institute, an independent economic think tank based in Santa Monica, CA, and as senior vice president at PennyMac, a publicly-traded mortgage company headquartered in Westlake Village, CA.
For four years, Bright worked in the office of U.S. Sen. Bob Corker (R-TN), where he advised on a range of Senate Banking Committee issues, including monetary policy, Dodd-Frank Act implementation, global market liquidity, U.S.-Chinese economic relations and housing finance. Bright also spent two years in large bank supervision at the Office of the Comptroller of the Currency.
Prior to coming to Washington, Bright spent six years as an interest rate derivatives trader and market-maker for both Wachovia Bank and Countrywide Financial. He holds a B.A. in international relations from Johns Hopkins University and an M.A. in the same discipline from the Johns Hopkins School of Advanced International Studies.